Norway Refuses to Bend Rules
To Allow Storebrand Takeover

OSLO -- Norway's banking commission sought to block a takeover of the nation's largest insurer, Storebrand AS, on Friday by refusing to give bidder Sampo PLC a required operating license.

Sampo launched its 20.8-billion-kroner ($2.33 billion) bid to buy Storebrand in May, and so far 86.3% of Storebrand shareholders have accepted the offer. But Norwegian law requires 90% acceptance before it will allow the takeover of a financial...